NSE: STLTECH · BSE: 532374
STERLITE TECHNOLOGIES LTD
Manufactures optical fibre cables and end-to-end optical connectivity infrastructure spanning glass preforms to gigabit-ready systems. The optical networking business — 94% of segment revenue at ₹4,486 cr in FY26 — sells fibre cables and connectivity products to hyperscale data centres, telecom carriers and FTTx/citizen networks, and reported segment EBIT of ₹606 cr. The remaining 6% comes from digital and technology solutions, a software-led services line that includes STL Digital. Q1 FY27 order intake hit a record ₹13,100 cr including a $1.1bn multi-year hyperscaler deal, lifting the open order book to ₹18,618 cr. Materials are the dominant cost at 51.9% of FY26 revenue, with management flagging germanium and helium supply constraints on capacity utilisation. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Optical networking business (94%), Digital and technology solutions (6%). Asset-heavy optical fibre and connectivity manufacturer tied to global telecom and data centre capex cycles
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5,754 | 6,925 | 5,478 | 3,996 | 4,745 |
| EBITDA (ex other income) | 551 | 890 | 570 | 416 | 585 |
| margin % | 9.6 | 12.9 | 10.4 | 10.4 | 12.3 |
| Owners' profit | 62 | 141 | (51) | (123) | 56 |
| EPS, as reported (₹) | 1.56 | 3.53 | (1.27) | (2.54) | 1.15 |
| ROE % · ROCE % | 2.3 · 7.4 | 6.1 · 18.0 | (2.8) · 9.3 | (6.2) · 4.5 | 2.5 · 9.1 |
| Debt / equity (x) | 1.62 | 1.75 | 1.59 | 0.91 | 0.81 |
| Cash from operations | 574 | 227 | 791 | 348 | 520 |
| Capex | (668) | (365) | (269) | (133) | (193) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,413 | 1,261 | 1,052 | 1,019 | 1,034 | 1,257 | 1,441 | 1,910 |
| Profit before tax | (16) | (34) | 2 | 13 | 6 | (21) | 109 | 257 |
| Net profit | (14) | (24) | (40) | 10 | 4 | (17) | 59 | 197 |
| EPS (₹) | (0.28) | (0.48) | (0.84) | 0.20 | 0.08 | (0.35) | 1.21 | 4.03 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Optical networking business | 3,532 | 73.9 |
| Digital and technology solutions | 284 | 5.9 |
| Optical Networking Business | 961 | 20.1 |
| Total, before eliminations | 4,777 | 100.0 |
Exhibit 4: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Q2 FY27 earnings call: record results and raised FY29 margin target | investor communications | medium | — | — |
| 23 Oct 2026 · Sterlite Technologies shares Q2 FY27 earnings call recording | investor communications | low | — | — |
| 23 Oct 2026 · QIP proceeds deployed; Rs 2.68 crore remains in escrow | fund raising | low | — | — |
| 23 Oct 2026 · Monitoring Agency Report for Q2FY27 on Preferential Issue | compliance | minimal | — | — |
| 23 Oct 2026 · Record Q2 revenue and profit lift STL order book to Rs 35,274 crore | results | high | — | — |
| 22 Oct 2026 · 82,158 stock options granted to eligible employees | capital market events | low | — | — |
| 8 Oct 2026 · Routine DP compliance certificate for Q2 FY27 filed with exchanges | compliance | minimal | — | — |
| 6 Oct 2026 · Sterlite Technologies schedules Q2 FY27 earnings call for Oct 23, 2026 | board shareholder meetings | low | — | — |
| 6 Oct 2026 · Sterlite Tech board meeting on Oct 23 to consider Q2FY26 results | results | low | — | — |
| 1 Oct 2026 · Special window for transfer and demat of physical shares opens until February 2027 | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.